Major crypto/blockchain news of the day summarized in a way that you don’t miss a single news without having to spend a lot of time.
1. ECB Board Member: Global Stablecoins Pose Risks to a ‘Fragmented’ Europe
European Central Bank (ECB) board member Benoit Coeure has warned that global stablecoins remain untested and raise potential risks across multiple policy domains. Coeure, a member of the ECB’s Executive Board, made his remarks at the Joint Conference of the ECB and National Bank of Belgium on Nov. 26, in a speech entitled “Crossing the chasm to the retail payments of tomorrow.” Read More
2. Bitcoin Life Lesson: User Claims Forgetting ‘Brain Wallet’ Worth $13M
A Bitcoin (BTC) investor has allegedly lost access to funds worth over $12.9 million after failing to record the passphrase for their wallet. In what may become the latest timely lesson for the wider Bitcoin user base, Reddit account u/lumanubrecon claimed that as of Nov. 26, their balance of 1,800 BTC was out of reach. Read More
3. Ripple Completes Promised $50M Investment in MoneyGram With Final $20M
Major money transmission network MoneyGram has announced that blockchain-based payments firmRipple has completed its original commitment with a final $20 million investment. In a Nov. 25 press release, MoneyGram announced that Ripple Labs Inc. has made a final $20 million equity investment in MoneyGram as part of Ripple’s original $50 million equity investment commitment. Read More
4. Tokenized Real Estate Falters as Another Hyped Deal Falls Apart
The idea of combining blockchain tokens and U.S. real estate was peaking at the start of this year, with college dorms, ski resorts and swanky Manhattan apartment blocks lined up to redefine the commercial mortgage market. Following 2017’s initial coin offering (ICO) circus, a second wave of grown-up investors would raise capital and issue loans using blockchain-based tokens, and in the process disintermediate an army of middlemen and bankers. Read More
5. BNY Mellon Aims to Go Live ‘ASAP’ on Trade Finance Blockchain Marco Polo
Bank of New York Mellon has joined the Marco Polo trade finance consortium running on R3’s Corda, becoming the 28th bank to do so.
The $373-billion asset bank is evaluating Marco Polo’s technology with the intention of onboarding clients if the network’s capabilities fit clients’ interests, said Joon Kim, global head of trade finance at BNY Mellon. Read More
6. Another Crypto Exchange is Dropping Privacy Coin Monero Over Compliance Risk
One of the top digital asset exchanges in Eastern Europe is to delist the privacy-focused monero cryptocurrency to align with international anti-money-laundering standards. Estonia-based BitBay announced Monday that monero (XML) will no longer be tradeable from Feb. 19, 2020. However, the crypto exchange is to cease deposits of XML as of this Friday, Nov. 29, and will block withdrawals temporarily from Friday to Dec. 5 around the time of a planned monero hard fork. Read More